Measuring workforce productivity and success: Tips and best practices

Measuring workforce productivity and success: Tips and best practices

Whether you're working with a local or nearshore team, measuring the success of your workforce is crucial to ensuring your company's success and growth. Measuring, monitoring, and managing your workforce allows you to improve productivity and costs, understand employee engagement and retention factors, maintain customer satisfaction, and ensure compliance and risk management.  

 

Defining success for your workforce

 

Before you can measure your workforce's success, you must first define success for your company. Analyze your key company indicators to set annual business goals and roll them out across departments. This allows you to establish clear, aligned, and ambitious goals focused on continuous improvement. You should tie each company goal to the individual departments that play a role in achieving that goal, ensuring your employees understand their role in the company's success.

 

Tips for measuring workforce performance and productivity

 

Once you’ve defined what success looks like for your workforce, you need to put processes in place to measure it. Tracking the success of your workforce may look a little different at every company, but there are a few best practices you should keep in mind when setting your processes.

 

Regular performance evaluations

Employee performance should be tracked and reported on more than once per year. Quarterly performance reviews can help you measure KPIs and evaluate employees' talents and areas for improvement. Consistent communication can improve employee productivity, engagement, and turnover.

 

Employee feedback

Evaluations should be a two-way street. Quarterly engagement surveys allow you to measure employee satisfaction and understand opportunities to improve company processes and culture. Happy, engaged employees lead to improved performance and productivity.

 

Productivity monitoring tools

In today's digital world, tools are available to monitor workflows in real-time and improve productivity. At Rapido, we use Controlio to monitor online sessions and track productivity based on custom KPIs. This tool allows us to track the productivity of teams and individuals to identify productivity gaps and remove distractions.

 

Metrics you should be using to measure workforce success

 

Using productivity metrics allows you to quantify the success of your workforce. Track metrics tied to your company goals to ensure your team works together to help your business succeed. Some metrics were commend tracking are:

·     Employee engagement: A Likert scale allows you to measure attitudes, opinions, and perceptions using a satisfaction percentage. 

·     Turnover rate / Retention rate: Comparing terminations to hirings each month allows you to measure your team's success and satisfaction.

·     Performance metrics: Measuring employee KPIs against their monthly and quarterly targets allows you to evaluate the performance of individual employees and teams. This can be broken down into specific metrics such as revenue per employee, total cost of workforce, employee utilization, and more.

 

Improving your workforce productivity metrics

 

Once you can measure your team's success and productivity, you can evaluate areas that may require improvement. Improving your metrics requires a comprehensive approach that involves analyzing data, setting clear and achievable goals, enhancing processes, and defining team strategies across departments. Depending on the opportunity areas, you may need to improve communication, offer additional training, evaluate company culture and employee engagement activities, and more.

 

Working with Rapido to monitor and improve workforce productivity

 

Rapido connects logistics and supply chain companies with the best talent in Mexico — but we don’t stop there. We are a dedicated partner providing ongoing support and performance management to ensure your team members meet their KPIs. We’ll help you set KPIs for your team that tie to your overall company goals, provide daily ongoing management, and help you develop your employees and teams to improve your goals.

 

Contact Rapido to learn how we can help you build an incredible nearshore team and measure their success and productivity.

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